U.S. Crypto Investors Continue to Invest in Memecoins Despite Risks
Kraken's recent survey reveals strong interest in memecoins among crypto investors despite high risks:
- 85% of respondents have invested in memecoins.
- 76% believe potential rewards justify the risks.
- 44% think memecoins will enhance the credibility of the crypto market.
- 42% expect memecoins to outperform other cryptocurrencies this year.
- Top reasons for investing include fear of missing out (FOMO), recommendations from friends and family, and the fun nature of tokens.
- 29% of holders cited short-term gains as their main motive; 23% mentioned diversification.
- Women show higher engagement, with 86% of female holders investing compared to 84% of male holders.
The report highlights concerns surrounding memecoins, particularly following the LIBRA token incident that led to a significant market cap drop after a 90% crash.
The survey included nearly 800 U.S. crypto holders on January 9, 2025.